Sumitomo Mitsui Financial : Organizational and Personnel Changes

News Release	Sumitomo Mitsui DS Asset Management Company, Limited
	October 26, 2020

Organizational and Personnel Changes

Sumitomo Mitsui DS Asset Management Company, Limited (President and CEO: Takashi Saruta) announced its organizational and personnel changes as follows.

The company has made steady progress in the integration process since the merger in April 2019. The reorganization and personnel changes are intended to further enhance customer satisfaction as the best asset management company that contributes to Quality of Life of customers. Please refer to Exhibit 1 for our new organizational structure.

1．Effective Date

November 2, 2020

2．Organizational Change

1. Pursue an optimal organizational structure to deliver superior investment performance

1. Establishment of Investment Department and Fund Management Department

The current seven departments responsible for investment and research in the Investment Management Division (Note) will be integrated into the "Investment Department." Simultaneously, administrative work within those seven departments will be consolidated into the Investment Management Department, which will be renamed as the "Fund Management Department".

This organizational change aims to reduce administrative work of fund managers and analysts and to enables them to concentrate on their core work. It also aims to bring flexibility in the organization so that the company is allowed to make strategic resource allocation in a timely manner.

(Note) Seven departments include Investment Development Department, Economic Research Department, Equity Investment Department I, Equity Investment Department II, Corporate Research Department, Global Strategies Investment Department I and Global Strategies Investment Department II.

ii. Supervisory Responsibility for the Shanghai Representative Office

The department in charge of the Shanghai Representative Office, which is mainly engaged in research on Chinese equities, will be changed from the International Business Department to Investment Department. We expect this change will bring further integration of relevant operations and knowledge management beyond a border.

Registration Number	Kanto Local Finance Bureau (KINSHO) No.399
Member of	Japan Investment Advisors Association
	The Investment Trusts Association, Japan
	Japan and Type Ⅱ Financial Instruments
	Firms Association	1

News Release	Sumitomo Mitsui DS Asset Management Company, Limited
	October 26, 2020

(2) Integration of the Trading Departments

Trading Department I and Trading Department II will be integrated into "Trading Department."

3．Changes in Executive Officers

Changes of the departments in charge

New Position	Current Position	Name
(Departments in Charge)	(Departments in Charge)
Director and Senior Managing	Director and Senior Managing	Shingo
Executive Officer	Executive Officer	Imai
(Head of Investment Management	(Head of Investment Management
Division,	Division,
Investment Department, Insurance	Economic Research Department,
Account Department	Insurance Account Department I
I and II)	and II)
Managing Executive Officer	Managing Executive Officer	Koichi
(Investment Department,	(Equity Investment Department I,	Kinoshita
Engagement Investment	Engagement Investment
Department)	Department, Corporate Research
	Department)
Managing Executive Officer	Managing Executive Officer	Hidehiro
(Investment Department)	(Equity Investment Department Ⅱ)	Fujiwara
Managing Executive Officer	Managing Executive Officer	Satoru
(Investment Department)	(Global Strategies Investment	Sakai
	Department Ⅰ and Ⅱ)
	and General manager of Global
	Strategies Investment Department
	Ⅰ and Ⅱ
Executive Officer	Executive Officer	Kazuo
(Investment Department)	(Investment Development	Watanabe
	Department)
	and General manager of Investment
	Development Department
Executive Officer	Executive Officer	Kazushi
(Investment Planning Department,	(Investment Planning Department,	Iwai
Fund Management Department)	Fund Operations Department)
Executive Officer	Executive Officer	Takeshi
(Trading Department)	(Trading Department Ⅰ and Ⅱ)	Omasa
and General manager of Trading	and General manager of Trading
Department	Department Ⅱ

• Please refer to Exhibit 2 for details on the responsibilities of all executive officers.

Registration Number	Kanto Local Finance Bureau (KINSHO) No.399
Member of	Japan Investment Advisors Association
	The Investment Trusts Association, Japan
	Japan and Type Ⅱ Financial Instruments
	Firms Association	2

News Release	Sumitomo Mitsui DS Asset Management Company, Limited
	October 26, 2020

4．Changes in General Managers

New Position	Current Position	Name
General Manager of Investment	General Manager of Equity Investment	Shigeharu
Department	Department Ⅱ	Kimishima
General Manager of Fund	General Manager of Fund Operations	Shunya
Management Department	Department	Inomata
	and Chief of Global Strategies
	Investment Department Ⅱ Multi
	Asset Team

Contact

Katsuki Maruyama

Corporate Strategy Department Communication Section

Tel [phone]

Registration Number	Kanto Local Finance Bureau (KINSHO) No.399
Member of	Japan Investment Advisors Association
	The Investment Trusts Association, Japan
	Japan and Type Ⅱ Financial Instruments
	Firms Association	3

News Release	Sumitomo Mitsui DS Asset Management Company, Limited
	October 26, 2020

Organizational Chart (As of November 2, 2020)

Registration Number	Kanto Local Finance Bureau (KINSHO) No.399
Member of	Japan Investment Advisors Association
	The Investment Trusts Association, Japan
	Japan and Type Ⅱ Financial Instruments
	Firms Association	4